in the news
CoinDesk: Post-FTX Meltdown, Regulation-Abiding Companies Can Restore TrustNovember 17, 2022
Various crypto companies appear to be preparing for bankruptcy following the collapse of cryptocurrency exchange FTX. The company and its founder Sam Bankman-Fried were heavily invested in other crypto companies around the world, but all of those investments are coming undone. “Bankruptcy court is a fishbowl,” said Daniel Shamah, co-head of the bankruptcy litigation group at O’Melveny & Myers LLP. “Every decision FTX made in recent weeks will be highly scrutinized by a litany of players – committees, potentially an examiner or a trustee, other investors – with a range of tools at their disposal. Expect this to be a long, expensive process that will take years to play out.”
Read the full article here.